Rivian Secures $1.5B in Tax Incentives for New Georgia Plant

David Shultz

David Shultz reports on clean technology and electric vehicles, among other industries, for dot.LA. His writing has appeared in The Atlantic, Outside, Nautilus and many other publications.

Rivian Secures $1.5B in Tax Incentives for New Georgia Plant
Rivian

Electric automaker Rivian announced today that it has secured $1.5 billion in tax incentives from the state of Georgia to begin construction on its new plant outside of Atlanta.

The factory, which is projected to cost $5 billion to build, is expected to bring 7,500 jobs to its area, each paying an average of $56,000, according to Rivian. Eventually, the plant should be capable of producing up to 400,000 vehicles annually.


Considering that Irvine-based Rivian’s supply chain struggles have forced the company to scale down production to just 25,000 vehicles this year, the factory represents a massive expansion for the company and a vital piece of its future. Georgia Gov. Brian Kemp has touted the project as the “single-largest economic development project in state history.”

However, the plant’s development has proven politically divisive in the state. While Kemp has championed the project as an economic boon for the region, his opponent in the Republican primary slated for later this month, David Perdue, has painted the factory as a handout to a Californian business and a windfall for Democratic Party donor George Soros, who invested roughly $2 billion in Rivian late last year.

Fortunately for Rivian, none of these concerns are likely to stop the facility's development, with today’s announcement moving the company one step closer to breaking ground. It’s a much-needed win for the EV manufacturer, which has struggled this year after vehicle pricing changes drew the wrath (and legal action) of investors and consumers in equal measure. The Amazon-backed company, once touted as a potential market challenger to Elon Musk’s Tesla, has seen its stock decline 69% this year and is currently trading at $32 per share—a far cry from the giddy high of $172 seen shortly after its record-breaking IPO last November.

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LA Tech ‘Moves’: Mapp Gains New CPO and CTO, Prodoscore Taps Boeing Exec

Decerry Donato

Decerry Donato is a reporter at dot.LA. Prior to that, she was an editorial fellow at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

LA Tech ‘Moves’: Mapp Gains New CPO and CTO, Prodoscore Taps Boeing Exec
LA Tech ‘Moves’:

“Moves,” our roundup of job changes in L.A. tech, is presented by Interchange.LA, dot.LA's recruiting and career platform connecting Southern California's most exciting companies with top tech talent. Create a free Interchange.LA profile here—and if you're looking for ways to supercharge your recruiting efforts, find out more about Interchange.LA's white-glove recruiting service by emailing Sharmineh O’Farrill Lewis (sharmineh@dot.la). Please send job changes and personnel moves to moves@dot.la.

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This Week in ‘Raises’: GITAI Lands $30M, Steno Gains $15M

Decerry Donato

Decerry Donato is a reporter at dot.LA. Prior to that, she was an editorial fellow at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

Raises
Image by Joshua Letona

A local space robotics startup raised fresh funding to expand the flight model manufacturing facilities throughout the U.S. and increase employment, while a remote litigation platform raised more funding to continue growing its footprint in new markets across the country, develop service channels for its clients and continue expanding its tech team.

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Gitai Secures $30 Million in Funding to Continue Space Robotics Developments

Samson Amore

Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College. Send tips or pitches to samsonamore@dot.la and find him on Twitter @Samsonamore.

Gitai Secures $30 Million in Funding to Continue Space Robotics Developments
\u200bPhoto: Gitai

Space robotics company Gitai raised a $30 million Series B extension this week, bringing the total value of the round to roughly $47 million.

The funding will be used to further develop Gitai’s suite of space robots as well as build out its manufacturing footprint in Torrance. Previously Gitai announced it raised a $17.1 million Series B in March 2021; this additional raise is still part of that round.

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